Toronto Dominion Bank Increases Position in Brookfield Business Partners L.P. (NYSE:BBU)

Toronto Dominion Bank grew its position in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,080 shares of the business services provider's stock after purchasing an additional 40,311 shares during the quarter. Toronto Dominion Bank owned approximately 0.41% of Brookfield Business Partners worth $7,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AGF Management Ltd. bought a new stake in shares of Brookfield Business Partners in the 4th quarter worth about $5,111,000. Forge First Asset Management Inc. lifted its holdings in shares of Brookfield Business Partners by 48.3% in the 4th quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider's stock worth $12,538,000 after acquiring an additional 173,500 shares during the last quarter. NewGen Asset Management Ltd bought a new stake in shares of Brookfield Business Partners in the 4th quarter worth about $2,356,000. PCJ Investment Counsel Ltd. lifted its holdings in shares of Brookfield Business Partners by 6.6% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider's stock worth $38,041,000 after acquiring an additional 99,763 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Brookfield Business Partners by 11.3% in the 4th quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider's stock worth $21,871,000 after acquiring an additional 94,052 shares during the last quarter. Institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Stock Performance

Shares of BBU traded down $0.16 during trading hours on Monday, hitting $24.96. The stock had a trading volume of 6,481 shares, compared to its average volume of 16,670. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The firm has a 50-day moving average price of $22.64 and a 200 day moving average price of $23.20. Brookfield Business Partners L.P. has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -50.93 and a beta of 1.28.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Business Partners's dividend payout ratio is presently -73.53%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. National Bankshares lowered their target price on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Scotiabank lowered their target price on shares of Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, CIBC reduced their price target on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, April 28th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $31.00.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.